EEGI, Eline Entertainment Group, Inc., EEGI.PK
** Eline Entertainment, Inc. (OTCPK:EEGI) in Merger Discussions with China Gaming Company **
EEGI has entered into merger discussions with China-based video game designer Vu365.
EEGImanagement feels that this is a significant event that merits reporting to the market. Management believes that this merger is imminent, as Vu365 (www.vu365.com) has been looking to enter the USA markets for quite some time, and virtually exhausted its patience in discussion with another publicly traded company.
EEGI management being able to accommodate VU365 needs is taking aggressive action. According to sources, Vu365 offers revenues in the $2 million USD range, with profits of $500,000 USD.
Vu365, a China-based gaming company, has over 30 employees. Founded in 2005, the group operates web and casual games. Vu365 has several products in development: an assortment of strategic web games, cyber games and 3-D large scale competitive games. Vu365 has already garnered popularity as the sole agent of a Korean MMORPG (Massively Multiplayer Online Role-Playing Game), a game that accrued 3000 online gamers and a monthly residual income of almost 300,000 RMB (about $10,000.00 USD) from that single application alone.
In other company news EEGI board awaits Innovation Group (Inn) updates regarding diversification of the Inn assets. EEGI management is looking for a change in direction and growth with its focus set in the entertainment industry with the aforementioned pending merger of VU365; and the recent merger of USA based luxury leisure transportation services.
EEGI is a publicly traded company with two subsidiaries: Innovation Investment Co., Ltd and Let the Good Times Roll.
More about EEGI at www.elineentertainment.com
Vical Incorporated (Nasdaq:VICL) reported financial results for the three months and nine months ended September 30, 2010.
Revenues were $2.3 million for the third quarter of 2010 compared with $3.9 million for the third quarter of 2009, reflecting lower revenues recognized from AnGes MG, Inc., as VICL approaches the completion of its Phase 3 Allovectin-7(r) trial.
Operating expenses decreased to $9.1 million for the third quarter of 2010 from $11.0 million for the third quarter of 2009, primarily as a result of reduced clinical trial related costs.
The net loss was $6.8 million, or $0.12 per share, for the third quarter of 2010, compared with a net loss of $7.0 million, or $0.14 per share, for the third quarter of 2009.
Aceto Corporation (Nasdaq:ACET), a global leader in the sourcing, quality assurance, regulatory support, marketing and distribution of pharmaceuticals, nutraceuticals, specialty chemicals and crop protection products, reported that Albert Eilender, Chairman and CEO and Douglas Roth, Chief Financial Officer will present at Sidoti & Company's NY II Emerging Growth Institutional Investor Forum at The Grand Hyatt Hotel in New York City on Monday, November 15, 2010 at 10:40 AM EST.
PICO Holdings, Inc. (Nasdaq:PICO) reported shareholders' equity of $573.9 million ($25.28 per share) at September 30, 2010, compared to $574.5 million ($25.37 per share) at June 30, 2010, and $582.6 million ($25.79 per share) at December 31, 2009.
Reported book value per share attributable to PICO's shareholders decreased by $0.09, or 0.4%, during the third quarter of 2010, and decreased by $0.51, or 2%, over the first nine months of 2010.
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